Truist Financial Corp Cuts Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Truist Financial Corp has reduced its holdings in GE HealthCare Technologies by 6.1%, now owning 76,274 shares valued at approximately $5.65 million.
• GE HealthCare Technologies is currently seeing significant institutional investment, with 82.06% of its stock owned by institutional investors and hedge funds.
• The company recently announced a quarterly dividend of $0.035 per share, marking an annualized yield of 0.2%.

Truist Financial Corp lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,274 shares of the company's stock after selling 4,988 shares during the period. Truist Financial Corp's holdings in GE HealthCare Technologies were worth $5,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. raised its holdings in GE HealthCare Technologies by 24.3% in the first quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock valued at $538,000 after acquiring an additional 1,306 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock valued at $278,000 after purchasing an additional 511 shares during the last quarter. Lineweaver Wealth Advisors LLC acquired a new stake in shares of GE HealthCare Technologies in the 2nd quarter valued at $592,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after purchasing an additional 9,769 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of GE HealthCare Technologies by 52.7% during the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company's stock worth $357,000 after purchasing an additional 1,550 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEHC. Weiss Ratings restated a "hold (c)" rating on shares of GE HealthCare Technologies in a research note on Saturday, September 27th. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Morgan Stanley set a $74.00 target price on GE HealthCare Technologies in a research note on Thursday, September 18th. Citigroup upped their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $86.89.

GE HealthCare Technologies Price Performance

GEHC stock opened at $76.41 on Tuesday. The company has a market capitalization of $34.89 billion, a P/E ratio of 15.66, a PEG ratio of 2.93 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The business has a 50 day simple moving average of $74.22 and a 200-day simple moving average of $72.44. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion for the quarter, compared to analysts' expectations of $4.96 billion. During the same period in the previous year, the company posted $1.00 EPS. The company's quarterly revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a $0.035 dividend. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's payout ratio is currently 2.87%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.

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